The October real estate market reports have been released By Texas Realtors and the Texas A&M Real Estate Research Center. The results show that inventory in October continued to creep up in
How Much Over List Price?
Dated: August 1 2021
Real Estate is one of those businesses in which everyone I talk to wants to talk about it. However the source, everyone seems to know something about it too. People are hearing that homes are selling quickly and for above list price. The question is, though, how much above list price? There are some wild stories in the media about offers for $100k or more over list price.
So, I took a deeper dive into the numbers for Horseshoe Bay and Marble Falls - our two biggest markets in the Highland Lakes - to see how we compare. Horseshoe Bay homes are actually overall going under list price by about 1%, but that is because of homes over $1 million are not getting asking price. Homes under $500k averaged over 5% asking price in July. In Marble Falls, homes under $1 million are basically getting asking price and there just isn't enough data for homes over $1 million to make any conclusions.
The trend is that the lower the price of the home, the more over asking price we can expect. Over the past four months, homes under $500k are averaging higher sales prices relative to list prices while homes over $500k are accepting offers at or a slightly lower than asking price. These trends are generally supporting the anecdotal evidence that the market is stable or even softening just a bit in this area.
Have a great week!
Hi there! Thanks so much for stopping by. I look forward to working with you. Although I am not a native to Texas, I have now been here for over 20 years. I was introduced to Horseshoe Bay in 2000 and....